Blackbaud-Convio deal moves forward

Blackbaud received a notification of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Termination or expiration of the waiting period is one of the conditions to completing the transaction.

“We are extremely pleased to achieve this milestone,” said Blackbaud CEO Mark Chardon. “We look forward to completing the tender offer process and then closing the merger. We are ready to deliver the benefits we see for the merger to our customers as well as to our employees and stockholders.”

Blackbaud first filed paperwork for the acquisition on Jan. 17. The company later withdrew the premerger notification to allow the Department of Justice time to informally review the transaction.

Blackbaud also extended its cash tender offer for all outstanding shares of Convio stock five times.